The Bank is approaching the closing of its Platinum Jubilee year. On this occasion, the Bank has decided to offer attractive rates of interest on domestic term deposits with maturity period 600 days and 1000 days. These interest rates will be offered with immediate effect.
Maturity period and interest rate on these offers are as under.
Maturity Period |
Rate of Interest (p.a.) |
600 Days |
7.25% |
1000 Days |
7.50% |
- These rates are available for single deposit receipts of LESS THAN RUPEES ONE CRORE ONLY. Per person ceiling of total deposit under the scheme shall be Rs. 1 crore only.
- In case of premature withdrawal or cancellation of deposit, the interest rate payable would be 1% below the applicable rate as prevailing on the date of deposit and payable for the period for which the deposit actually remained with the Bank.
- Senior citizens will be offered an additional rate of 0.50% only for total deposits under the scheme not exceeding Rs. 1 crore.
- A member or a retired member or the spouse of a deceased member of the Bank’s staff will be offered an additional interest rate of 1.00%. Senior citizen retired member of the Bank’s staff will not be allowed double benefit of interest for being a member of staff and a senior citizen as well.
- These interest rates would be applicable to NRO term deposits also.
|